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The Divi Neguma Bill has put forward new questions regarding transparency and good governance in Sri Lanka as well as the role played by powerful politicians in moving away from best practices under the guise of assisting people “for the greater good”. In a nutshell, the Supreme Court last week told Parliament that the Bill ...
Reuters: Brent crude oil fell more than $1 per barrel to below $110 on Wednesday, weighed down by a stronger dollar, worries over growth and the euro zone debt crisis as Greece faced its biggest anti-austerity strike for months. Greece’s transport system ground to a halt, shops pulled down their shutters and hospitals worked on ...
Yet another sustainability project was organized by the Corporate andamp; Offshore Banking department of Seylan Bank PLC recently at Gurugoda Kanishta Vidyalaya, Horana.
Citizens Development Business Finance PLC (CDB) recently signed up for the Sri Lanka Interbank Payment System (SLIPS) through Commercial Bank, the first-ever to be so in the non-banking financial institutions category.
Pan Asia Bank ceremonially opened its 73rdandnbsp;Branch in Trincomalee on last Friday (21 September 2012) atandnbsp;No. 459, Dockyard Road, Trincomalee.
The Commercial Bank of Ceylon has opened a second customer service point in Wellawatta, to serve its increasing customer base in that part of Colombo.
The biggest savings bank in Malaysia, Bank Simpanan Nasional (BSN) says through higher loan revenues and increased community banking activities they expect a 25% growth in profitability during 2012.
Global giant Standard Chartered Bank tips Sri Lanka’s economic growth to rebound in 2013, after contracting this year from 2011. It is forecasting economy to grow by 7.5% in 2013 and by 7.7% in 2014 from 6.8% this year. However, forecasts for the next two years are lower in comparison to record 8.3% growth achieved ...
What is planning? Planning (also called forethought) is the process of thinking about and organising the activities required to achieve a desired goal. Planning involves the creation and maintenance of a plan. As such, planning is a fundamental property of intelligent behavior. This thought process is essential to the creation and refinement of a plan, ...
Browns Group has grown from strength to strength recording a 19% growth in revenue to Rs. 14.4 billion while profitability was also up by 6% for the year ended April 2012. Group Managing Director and CEO Murali Prakash stated, “The best performing sectors were agriculture, general trading, consumer, retail, plantation support services and power systems, ...
A number of articles which appeared in print media in the recent past signify the volatility in the economy. High volatility leads to vulnerability. Volatility and vulnerability are reflections of the haphazard nature of the economic policies and poor economic governance in a country. What is volatility? Volatility is the severity and the frequency with ...
Fitch Ratings has assigned the Ceylon Income Fund an ‘A-(lka)’ National Fund Credit Rating. This is the first fund rating assigned by an international rating agency in Sri Lanka. The fund primarily invests in corporate debt instruments and is managed by Ceylon Asset Management (CAM). The ‘A-(lka)’ National Fund Credit Rating is driven by the ...
Reuters: Asian shares edged lower on Tuesday after Germany’s business confidence fell in September for a fifth consecutive month and Caterpillar Inc (CAT.N), the world’s largest earth moving equipment maker, cut its earnings forecast, underscoring worries about slowing global growth. Uncertainty about the bailout prospects for Greece and Spain, as the euro zone’s three-year-long ...
The yields on secondary market Treasury bonds closed the day rather flat yesterday ahead of the weekly Treasury bill auction to be held today. It’s widely expected that weighted averages will decline significantly across the board at today’s auction as an amount of Rs. 10 b is being offered. At last week’s auction weighted averages ...
Singer Finance, one of Sri Lanka’s most trusted finance companies, recently appointed two of the country’s most respected business personalities to its Board of Directors. The addition of Marina Tharmaratnam and J. A. Setukavalar as independent directors to the Company’s Board was the latest reminder of the Company’s unstinting commitment to the highest standards of ...
The total active credit cards within Sri Lanka increased by 55,864 between December 2011 and July of this year, according to provisional figures from the Central Bank of Sri Lanka.
Reuters: Sri Lanka will cut spending from the 2012 budget to keep the fiscal deficit to a targeted 6.2%, the treasury secretary said on Monday, adding that growth may fall as low as 6.5%this year because of a drought and the global slowdown. By April this year, Sri Lanka’s budget deficit was 285.8 billion rupees ...
Investors reacted positively to Cargills (Ceylon) Plc’s last week’s announcement of its tie-up with world famous restaurant chain TGI Friday’s, with the former’s share price gaining by 2% or Rs. 2.90 to Rs. 158.90 after hitting an intra-day high of Rs. 159. The counter saw 8.501 shares traded between a high of Rs. 159 and ...
The share price of Aviva NDB Insurance Plc yesterday soared to a record high as investors took speculative positions on the impending sale of its control. The company’s stock price hit an all time high of Rs. 448.90 during the day before settling down at Rs. 436.60, up by a whopping Rs. 67 or 18% ...
SEC Chairman Dr. Nalaka Godahewa yesterday clarified that his only investments in listed companies were Colombo Land (1%) and George Steuart Finance (5%)and he would not be trading in either whilst in office. “As part of best practices, I have taken a personal decision not to trade in shares during the time I hold office ...
The Dialog Mercantile Rugby Sevens 2012 will be held on 23, 24 and 25 November at the Havelock Sports Club grounds. The tournament is powered by Dialog Axiata Plc for the ninth successive year since 2003. The 42nd Tournament is conducted by Mercantile Rugby Football Association (MRFA) under the Presidency of Wasantha Ramanayake. Entries are ...
Scientists have pinpointed a gene that enables rice plants to produce around 20% more grain by increasing uptake of phosphorus, an important, but limited, plant nutrient. The discovery unlocks the potential to improve the food security of rice farmers with the lowest value phosphorus-deficient land, allowing them to grow more rice to add to global ...
Hemas Hospital recently celebrated the joy of the arrival of its 2,000th baby. When baby Deon Thaveesha arrived under the care of Hemas Hospital maternity team, the management and staff of Hemas Hospital gathered to welcome the baby and to congratulate the proud parents, the de Silvas. During the past couple of years Hemas Hospital ...
By Rashika Fazali The Tron Legacy was brought alive at the Nations Corporate Quiz organised by Nations Trust Bank (NTB) last Friday at a high tech event held at Cinnamon Grand. Running for the sixth year, the Nations Corporate Quiz is structured to foster amicable relationships and competition within the corporate sector of Sri ...
Reuters: Riskier assets fell broadly on Monday, dragging down Asian shares, copper and oil but the dollar strengthened as investors shifted their focus to weak economic fundamentals while monitoring progress in the euro zone debt bailout scheme. The MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.7%, with a 1.5% drop in its materials ...
Standard Chartered, in furtherance of the Memorandum of Agreement (MOA) signed with Youth Business Sri Lanka (YBSL), a project of the Ceylon Chamber of Commerce (CCC), handed out micro-financing facilities to 29 young men and women of Jaffna who had been affected by the war to start up businesses, on Friday, 21 September 2012. Nine ...
Leaving nobody out in the cold In India, the Rangarajan Committee on Financial Inclusion defined the concept as: “The process of ensuring access to financial services, timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups, at an affordable cost.” At the recent FutureGov SAARC Summit in Colombo, ...
Bartleet Finance PLC, which has been in the forefront of providing financial services in the Embilipitiya area, moved to a convenient and spacious location in the heart of the town to provide better services to its clients. The relocation will provide it greater opportunity to synergise with its customers and enhance their potential to grow ...
HDFC Bank donated valuable and urgently needed medicinalandnbsp;drugs to the Cancer Hospital, Maharagama, recently.andnbsp;This was organized by the members of the Sports Club of the bank as a part of the bankandrsquo;s Corporate Social Responsibility.
Medawachchiya is a bustling town located in theandnbsp;Anuradhapura district,andnbsp;North Central Provinceandnbsp;ofandnbsp;Sri Lanka. It is an important commercial centre of the northern region of Sri Lanka. Commencing from Medawachchiya, four main roads fan out in four directions. They are Jaffna, Kandy, Mannar and Trincomalee.